Pegasus: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Pegasus
Largest movements
- Cash +€18,849
up €18,849 (+4.5%), from €416,497 to €435,346
mainly Provisions (+€18,867) and Trade debts (+€6,888)
- Receivables within one year +€6,151
up €6,151 (+6.3%), from €98,082 to €104,233
of which Other amounts receivable: +€21,987
- Provisions +€18,867
new in 2025: €18,867
- Trade debts +€6,888
up €6,888 (+1.9%), from €363,895 to €370,783
- Gross operating margin -€8,543
down €8,543 (-5.7%), from €151,019 to €142,476
- Other operating charges -€6,642
down €6,642 (-89.2%), from €7,446 to €804
- Staff costs +€3,036
up €3,036 (+2.6%), from €118,273 to €121,309
- Write-downs -€2,451
no longer reported in 2025 (was €2,451)
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €528,932 | €555,005 | +€26,073 | +4.9% |
| Fixed assets | 21/28 | - | €1,687 | +€1,687 | |
| Tangible fixed assets | 22/27 | - | €1,687 | +€1,687 | |
| Furniture and vehicles | 24 | - | €1,687 | +€1,687 | |
| Current assets | 29/58 | €528,932 | €553,318 | +€24,386 | +4.6% |
| Amounts receivable within one year | 40/41 | €98,082 | €104,233 | +€6,151 | +6.3% |
| Trade receivables | 40 | €92,019 | €76,183 | -€15,836 | -17.2% |
| Other amounts receivable | 41 | €6,063 | €28,050 | +€21,987 | +363% |
| Cash at bank and in hand | 54/58 | €416,497 | €435,346 | +€18,849 | +4.5% |
| Deferred charges and accrued income | 490/1 | €14,353 | €13,739 | -€614 | -4.3% |
| Total equity and liabilities | 10/49 | €528,932 | €555,005 | +€26,073 | +4.9% |
| Equity | 10/15 | €151,861 | €152,454 | +€593 | +0.4% |
| Contributions | 10/11 | €26,698 | €26,698 | = | 0.0% |
| Capital | 10 | €26,698 | €26,698 | = | 0.0% |
| Reserves | 13 | €27,029 | €30,212 | +€3,183 | +11.8% |
| Profit (loss) carried forward | 14 | €98,134 | €95,544 | -€2,590 | -2.6% |
| Provisions and deferred taxes | 16 | - | €18,867 | +€18,867 | |
| Provisions for liabilities and charges | 160/5 | - | €18,867 | +€18,867 | |
| Taxes | 161 | - | €18,867 | +€18,867 | |
| Amounts payable | 17/49 | €377,071 | €383,684 | +€6,613 | +1.8% |
| Amounts payable within one year | 42/48 | €377,071 | €383,684 | +€6,613 | +1.8% |
| Trade debts | 44 | €363,895 | €370,783 | +€6,888 | +1.9% |
| Suppliers | 440/4 | €363,895 | €370,783 | +€6,888 | +1.9% |
| Taxes, remuneration and social security | 45 | €13,176 | €12,901 | -€275 | -2.1% |
| Remuneration and social security | 454/9 | €13,176 | €12,901 | -€275 | -2.1% |
| Membership fees, donations, legacies and grants | 73 | €74,746 | €72,376 | -€2,370 | -3.2% |
| Remuneration, social security and pensions | 62 | €118,273 | €121,309 | +€3,036 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €451 | +€451 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,451 | - | -€2,451 | |
| Other operating charges | 640/8 | €7,446 | €804 | -€6,642 | -89.2% |
| Gross operating margin | 9900 | €151,019 | €142,476 | -€8,543 | -5.7% |
| Operating profit (loss) | 9901 | €22,849 | €1,045 | -€21,804 | -95.4% |
| Financial income | 75/76B | €410 | €336 | -€74 | -18.0% |
| Recurring financial income | 75 | €410 | €336 | -€74 | -18.0% |
| Financial charges | 65/66B | €972 | €788 | -€184 | -18.9% |
| Recurring financial charges | 65 | €972 | €788 | -€184 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €22,287 | €593 | -€21,694 | -97.3% |
| Profit (loss) for the period | 9904 | €22,287 | €593 | -€21,694 | -97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,287 | €593 | -€21,694 | -97.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.